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MACD Divergences indicator - this

Posted by DigiNomad on 18th of Mar 2024 at 03:35 pm

MACD Divergences indicator - this nailed the top today and it's often worked well for me. I have it set to send an alert when it triggers bear or bull divergences.  I adjusted MACD setting to 3 fast, 10 slow. Seems to line up better until used on longer time frames....then12/26 is fine. 

Internals - last week was

Posted by DigiNomad on 18th of Mar 2024 at 03:03 pm

Internals - last week was the first dip below zero on the composite indicator since October....barely below. 

IWM and SMCI -  "as

Posted by DigiNomad on 18th of Mar 2024 at 02:53 pm

IWM and SMCI -  "as part of the addition to the S&P 500, it is being removed from the small-cap Russell 2000 (IWM). Mott Capital estimates that SMCI has contributed about 16 points or roughly 8%to the index this year. The index is up approximately 8%, meaning that SMCI is responsible for 100% of the index's gains this year."

So, IWM dodged a bullet today but what is going to take it higher now that it lost it's biggest contributor to gains? Regional banks? 

"So maybe the cycle break

Posted by DigiNomad on 18th of Mar 2024 at 02:21 pm

"So maybe the cycle break will be a reversal instead of a wave 3 indicator" - nailed it. Now I need to do that with something that's easier to trade   

IWM might have dodged a

Posted by DigiNomad on 18th of Mar 2024 at 01:47 pm

IWM might have dodged a bullet by losing SMCI. Definitely helping them out today. Would have been a much lower day today if SMCI was still dominating the index. 

TNX / 10 year yield

Posted by DigiNomad on 18th of Mar 2024 at 01:44 pm

TNX / 10 year yield - broke through sell cycle on both the 5 and 10 min (to the upside).  2 bars outside the bollinger bands on the 5 min so maybe the cycle break will be a reversal instead of a wave 3 indicator.

Triple leveraged bond funds I was seeing advertised last week don't seem so silly now. 

I worked a contract for them back on the good side of the weekly chart (military bomb squad type stuff). Looks like they've had a rough go of it since then!  

SKEW daily - interesting look.

Posted by DigiNomad on 18th of Mar 2024 at 01:01 pm

SKEW daily - interesting look. I think of this as a measure of how many meme trader types are bidding up short term out of the money calls.  It has bounced from below the 200 EMA since ever since. Bounces lead to SPX berserko mode.  See if it can hold this time. 

2 Yr - amazing to see it up at 4.75%.  If it climbs much further people are going to start whispering about rate hikes vs cuts. 

TNX - broke into the

Posted by DigiNomad on 18th of Mar 2024 at 12:03 pm

TNX - broke into the "not good for parts of the market" area. 

MA Ribbon SPX 130 - Interesting using this for wave counts instead of looking at somewhat complicated price. I still use both but I'm leaning more towards the ribbon as I get used to it. Anyway, the 130 ribbon right now shows a 5 wave pattern completed to the downside last week which could potentially make today's move a wave A vs a 1?  That's not what I suggested in my last post, but then I expanded the ribbon and blocked everything else out.  

...the market does tend to play sick right before Fed meetings I think in hopes of conniving more stimulus out of the Fed. Running hard into Wednesday probably wouldn't play well in the Fed meeting starting tomorrow. 

SPX 130 - Broke through

Posted by DigiNomad on 18th of Mar 2024 at 11:27 am

SPX 130 - Broke through the ATR and printed a new green one at the same time as a Demark 9.  No cycle indicators recently on longer time frames. The way I read them, it seems likely we're still in wave 1 on the longer time frames. On the 5 min, it looks like we completed 5 waves and are now somewhere in the corrective process - I only see 1 red section on the ribbon, so maybe wave A still? 

TNX -  strong again today.

Posted by DigiNomad on 18th of Mar 2024 at 11:12 am

TNX -  strong again today.  Will be interesting to see how market reacts if it clears this level.

Copper - continues to add from breakout.

Crude - working higher.  Trying to establish itself above 80 (81.35 currently)

Michael Saylor comments recently might

Posted by DigiNomad on 18th of Mar 2024 at 10:03 am

Michael Saylor comments recently might be accurate - we could be in for the mother of all parabolic market runs. We've transitioned into an era of unapologetic, record Gov deficit spending (blowout records). It's happening with an already hot economy (pro cyclical deficit spending) and they're not blaming it on the pandemic or wars anymore. Nothing indicates even a hint of slowing down...or that they have any urge to slow down. Given that backdrop, I don't see many catalysts for the moderation of asset price inflation.

Solana had a crazy weekend.

Posted by DigiNomad on 17th of Mar 2024 at 10:06 pm

Solana had a crazy weekend. Inflating like one of those balloons that goes to the edge of space. 

Love the "Market Ear" charts!

The Market Ear BTC

Posted by DigiNomad on 17th of Mar 2024 at 10:05 pm

Love the "Market Ear" charts!

SMCI - largest contributor to

Posted by DigiNomad on 15th of Mar 2024 at 04:00 pm

SMCI - largest contributor to IWM performance will be out as of close today. Welcome to SPX. Good luck IWM. 

Imbalance report -  nice reaction

Posted by DigiNomad on 15th of Mar 2024 at 03:51 pm

Imbalance report -  nice reaction today....but not as extreme as expected. 

Got an email today advertising

Posted by DigiNomad on 15th of Mar 2024 at 03:20 pm

Got an email today advertising triple inverse leveraged bond funds. Lol

Until very recently. It's a

VIX 60

Posted by DigiNomad on 15th of Mar 2024 at 03:14 pm

Until very recently. It's a tempting buy right here sitting in the demand zone. 

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